Mercuria CSR Report 2020 - Flipbook - Page 49
(UKBA), the United States Foreign Corrupt Practices Act
WEF Partnering Against
(FCPA), as well as anti-corruption laws and regulations
Corruption Initiative (PACI)
of all other countries in which the firm conducts
business.
Mercuria complies with anti-bribery and
Launched in 2004, PACI serves
corruption legislation and guidelines to ensure fair and
as
the
principal
CEO–led
proper business conduct in the marketplace.
platform in the global anticorruption arena, building on the pillars of public-private
In addition, Mercuria’s Compliance Program includes a
cooperation, responsible leadership and technological
policy and procedure governing the onboarding process
advances. With approximately 90 signatories from
for brokers, intermediaries, and the formation of joint
different sectors across the globe, PACI undertakes
ventures.
The process enables an enhanced KYC
initiatives to address industry, regional, country or
process for these categories of partners. This ensures
global issues tied to anti-corruption and compliance.
that anyone undertaking or facilitating business activity
The PACI Principles, to which we have committed, call
in this capacity understands Mercuria’s Anti-Bribery/
for businesses around the world to commit to zero
Anti-Corruption policy, is able to identify actions that
tolerance of corruption in all its forms. PACI encourages
could be considered to be bribery or corrupt in nature,
members to join collective action initiatives to increase
and agree to not engage in such actions.
public trust in business, deliver fair markets and level
the playing field by fighting corruption.
Mercuria also provides annual compliance training
throughout the calendar year to global employees
relating to additions or proposed changes to exchange
DUE DILIGENCE
and regulatory rules, market conduct, internal policies
and other learnings such as market and regulatory
Overview of KYC
events. These trainings provide all employees with
an appropriate outline and scope of such changes to
As one of the largest traders in physical commodities,
ensure that they are well acquainted with all rules and
Mercuria has a reputation for the strong, ethical, safe
regulations to which Mercuria must adhere.
and consistent manner in which it conducts the logistics
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